Lord Puttnam: Tax online gambling to fund the arts

Tom Queally riding Chigun (C, red) win The Mawatheeq Rosemary Stakes at Newmarket racecourse on September 28, 2012 in Newmarket, EnglandFrom The Telegraph

The film producer and Labour peer said the UK is in “desperate need” of cultural skills and talent, and taking advantage of the boom in placing bets via the internet could aid the industry.

“We will need to find new ways to help support the arts,” Lord Puttnam wrote in the Yorkshire Post.

“As many of you will be aware, there is enormous growth in the gambling industry, particularly online gambling, perhaps even, to some extent, displacing money spent on our National Lottery.

“I would like to think that the proceeds of a point of consumption tax on online gambling could, for example, be used to supplement the nation’s investment in arts, sport and culture.”

An Arts Council report last month found the arts sector makes a £7 contribution to the UK economy for every £1 of government subsidy, making up 0.4pc of GDP compared with just 0.1pc of investment.

Telegraph